中文简体The global metals and fabricated metal products market size was valued at USD 11.2 trillion in 2020 and is expected to reach USD 18.5 trillion by 2030, growing at a CAGR of 5.2% from 2021 to 2030.
Metal is an important reusable resource with excellent thermal and electrical conductivity, density, and the ability to deform without cracking under pressure. Metal fabrication is a process that involves cutting, shaping, or forming metallic materials into finished products. Increasing demand for metals and metal-produced products from various end-use industries such as healthcare, aviation, energy and power, electrical and electronics is expected to drive market growth over the forecast period.
Furthermore, technological improvements and increasing demand for metals and metal products from the automotive industry are driving the expansion of the global market. Steel, magnesium and aluminum are commonly used metals in the automotive industry due to their low cost and high safety. Government regulations, improving operational efficiency to reduce operating costs, increasing input material costs, and improving output quality are factors hindering market growth. The growth of metals markets in emerging economies and the large-scale use of recycled metals and related products are expected to provide significant opportunities for the metals and fabricated metal products market.
